Trusts aren't just for the wealthy. They're planning tools that help Illinois families protect assets, avoid probate, and ensure their wishes are followed after they're gone.
A trust is a legal arrangement where you transfer ownership of assets to a trustee who manages them for your beneficiaries. Sounds complicated, but the concept is straightforward. During your lifetime, you're typically the trustee of your own trust—you control everything. When you die or become incapacitated, your successor trustee steps in and distributes assets according to your instructions. No probate court. No public record. No delays.
Without a trust, your estate goes through probate in Illinois. That process takes months. Court costs accumulate. Everything becomes part of the public record—what you owned, who gets it, how much it's worth. Your family waits while the court supervises every step of the distribution process.
At Kravets Law Group, Founder Daniel Kravets personally handles every trust matter. He's been practicing law since 2016 and opened the firm in 2020. We've worked with Northbrook families across all situations—individuals with multiple properties, blended families, business owners, parents with special needs children. Our Northbrook trust lawyer approach focuses on creating documents that actually accomplish what you need them to accomplish.
Why Families Work With Kravets Law Group
Decade of Trust and Estate Planning Experience. Daniel Kravets has 10 years of experience drafting trusts for Illinois families. He understands the challenges you face depending on what you own and who's involved. Real estate portfolios need careful titling. Retirement accounts require beneficiary coordination. Business interests demand succession planning. We've handled all of these scenarios in Northbrook, IL and understand the specific concerns that come up with trust planning in this area.
Proven Results with Complex Family Situations. We've created trust structures for families with $300,000 to $30 million+ in assets, including dynasty trusts to protect multi-generational wealth and special needs trusts to preserve benefits for disabled beneficiaries. These aren't cookie-cutter documents. Each trust gets drafted based on your specific family dynamics, asset types, and long-term goals.
Fixed-Rate Pricing with No Hidden Fees. Most trust documents are offered at flat-rate pricing. Additional deeds and transfer documents have clear add-on fees explained upfront. You know what you're paying before we start. No surprise hourly bills showing up later.
Personal Service from Consultation to Signing. Daniel handles every case personally—not paralegals, not junior attorneys. We use plain-English explanations so you understand exactly what each provision does and why it matters.
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"I had a wonderful experience working with Daniel Kravets. Estate planning can feel overwhelming, but he explained everything clearly, guided me through each step with patience, and took the time to answer all my questions. I contacted multiple lawyers before, but Kravets Law Group gave me the best advice and the best price. I am so happy I found this law firm. I highly recommend him!" – Yelena Shvets
Types of Trust Services We Handle in Northbrook, IL
We represent individuals, families, and business owners in creating and managing trusts. Our Northbrook trust attorney handles the full range of trust-related matters.
- Revocable Living Trusts. You maintain complete control—modify terms, change beneficiaries, or dissolve the trust entirely during your lifetime. Assets transfer directly to beneficiaries when you die without court supervision. Creating a revocable trust is the foundation of most estate plans we draft.
- Irrevocable Trusts. Once established, these trusts can't be changed or revoked. That permanence provides significant benefits for asset protection and estate tax planning. We use them when clients need to shield assets from creditors or reduce taxable estate values.
- Special Needs Trusts. Families with disabled children or dependents need structures that provide financial security without jeopardizing government benefits like SSI or Medicaid. We draft first-party, third-party, and pooled trusts depending on your situation.
- Dynasty Trusts. For families looking to protect wealth across multiple generations, these trusts minimize estate taxes and shield assets from creditors. Particularly useful when you have substantial real estate holdings or business interests passing through several generations.
- Life Insurance Trusts. These irrevocable trusts own your life insurance policies, removing the death benefit from your taxable estate. Makes sense for families with significant life insurance coverage and potential estate tax exposure.
- Charitable Trusts. If philanthropy is part of your planning, charitable remainder trusts and charitable lead trusts provide tax benefits while supporting causes you care about. We structure these to balance your charitable goals with family needs.
- Trust Administration. After someone dies, their trust needs proper administration. We guide successor trustees through the process—inventorying assets, paying debts, filing tax returns, and distributing to beneficiaries.
Illinois Trust Law Requirements
Creating a valid trust in Illinois requires compliance with specific legal requirements. Miss one element and the trust might not hold up.
The Illinois Trust Code establishes that a trust needs three parties: the settlor (you), the trustee (who manages the assets), and beneficiaries (who benefit from the trust). The trust must have a lawful purpose. You must transfer actual property into it—an empty trust accomplishes nothing.
Most revocable trusts in Illinois let you serve as settlor, trustee, and beneficiary simultaneously during your lifetime. When you die, the trust becomes irrevocable and your successor trustee distributes assets according to your written instructions.
Illinois has no state estate tax, but federal estate tax applies to estates exceeding $13.61 million per person in 2024. Proper trust planning can minimize federal tax exposure for high-net-worth families.
Funding the trust properly is critical. Real estate requires new deeds filed with the Cook County Recorder. Financial accounts need retitling. Investment accounts require beneficiary updates. Understanding how trusts work helps you avoid the most common mistake—creating a trust but never transferring assets into it.
The Illinois probate process can take six months to over a year. A properly funded trust avoids probate entirely. Your successor trustee distributes assets within weeks instead of months, with no court supervision.
Working with qualified legal counsel matters. The Illinois attorney licensing requirements ensure your trust documents are prepared correctly. Mistakes in trust drafting—unclear provisions, improper beneficiary designations, provisions that conflict with state law—create problems your family deals with after you're gone.
Contact Kravets Law Group
If you're ready to protect your assets and create a trust that works for your family, contact our Northbrook trust lawyer today. We offer free initial consultations.
Daniel Kravets personally handles every case from our Chicago office, serving Northbrook and surrounding Cook County communities. Reach out through our website to schedule.
During your consultation, we'll review what you own, who you want to benefit, and any specific concerns about your situation. We'll explain which type of trust makes sense for your circumstances. You'll leave understanding the process, timeline, and costs.
Most trust packages are completed within 2-4 weeks depending on your schedule and asset complexity.
We respond to questions promptly and stay available throughout.
Don't wait. Proper planning now saves your family months of court proceedings and thousands in unnecessary costs later.
